closed contract. Whose terms constitute the entire agreement between the contracting parties and no clause or provision can be changed or modified without mutual consent. An insurance contract, for example, is a closed contract whereas a construction contract may not be one. See also open contract.
The volt (symbol: V) is the derived unit for electric potential, electric potential difference (voltage), and electromotive force. The volt is named in honour of the Italian physicist Alessandro Volta (1745â1827), who invented the voltaic pile, possibly the first chemical battery.
Lesson Summary. Electric potential is the level of power behind a flow of electricity, but shouldn't be confused with the electric current itself. We often refer to electric potential as voltage and measure it in volts (V), which is found by dividing work (joules) by charge (coulomb). The larger the voltage, the stronger the 'push' of electricity, operating much like the water pressure in a shower. To unlock this lesson you must be a Study.com Member.